Wynn Resorts, Limited (NASDAQ:WYNN) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Wynn Resorts, with 16 buy ratings, one strong buy, one hold and one sell among 19 analysts. The average 12-month price target is $135.44, well above the reported share price of $98.36.
• Wynn Resorts exceeded quarterly expectations, reporting $1.25 in EPS versus the $1.18 consensus and revenue of $1.86 billion, up 9.2% year over year. Analysts expect full-year EPS of $4.49.
• Institutional investors own 88.64% of the company, with several firms recently increasing their stakes. Wynn also declared a $0.25 quarterly dividend, equivalent to a 1.0% annualized yield.

Shares of Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) have been given an average recommendation of "Moderate Buy" by the nineteen analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $135.4375.

A number of research firms have issued reports on WYNN. Zacks Research downgraded shares of Wynn Resorts from a "hold" rating to a "strong sell" rating in a research report on Friday, July 10th. Truist Financial initiated coverage on shares of Wynn Resorts in a research report on Wednesday, July 8th. They set a "buy" rating and a $125.00 price target for the company. The Goldman Sachs Group set a $120.00 price target on shares of Wynn Resorts in a research note on Wednesday, July 15th. Susquehanna reduced their price objective on shares of Wynn Resorts from $133.00 to $127.00 and set a "positive" rating on the stock in a research note on Thursday, April 16th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $128.00 price objective on shares of Wynn Resorts in a research note on Wednesday, July 22nd.

Institutional Investors Weigh In On Wynn Resorts

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WYNN. Czech National Bank boosted its holdings in Wynn Resorts by 3.8% during the second quarter. Czech National Bank now owns 23,871 shares of the casino operator's stock worth $2,318,000 after buying an additional 879 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Wynn Resorts by 204.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 60,126 shares of the casino operator's stock worth $5,838,000 after buying an additional 40,369 shares during the period. GAMMA Investing LLC increased its stake in shares of Wynn Resorts by 5.7% in the 2nd quarter. GAMMA Investing LLC now owns 4,778 shares of the casino operator's stock valued at $464,000 after acquiring an additional 259 shares during the last quarter. CX Institutional increased its stake in shares of Wynn Resorts by 22.5% in the 2nd quarter. CX Institutional now owns 4,285 shares of the casino operator's stock valued at $416,000 after acquiring an additional 786 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in shares of Wynn Resorts by 18.5% in the 1st quarter. Parallel Advisors LLC now owns 756 shares of the casino operator's stock valued at $77,000 after acquiring an additional 118 shares during the period. Institutional investors own 88.64% of the company's stock.

Wynn Resorts Stock Down 1.0%

Shares of WYNN opened at $98.36 on Tuesday. Wynn Resorts has a 12-month low of $92.52 and a 12-month high of $134.72. The firm has a market capitalization of $10.21 billion, a PE ratio of 29.36, a price-to-earnings-growth ratio of 0.98 and a beta of 1.01. The stock's fifty day simple moving average is $100.51 and its 200-day simple moving average is $104.08.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The casino operator reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.18 by $0.07. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.82 billion. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The company's revenue was up 9.2% on a year-over-year basis. During the same period last year, the company earned $1.07 earnings per share. Analysts anticipate that Wynn Resorts will post 4.49 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Monday, May 18th. Wynn Resorts's dividend payout ratio (DPR) is currently 29.85%.

About Wynn Resorts

Wynn Resorts, Limited NASDAQ: WYNN is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.